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trillion of dry powder just waiting to be used. do you expect in this environment with all of the uncertainty, the fiscal cliff, all of the issues we've been talking about all morning, that you can actually put all that money to work? >> for one, it's $1 trillion has been there for quite some time. it's not all of a sudden $1 trillion. it's been there for five, six, seven years so you typically have $800 million to $1 trillion of dry powder. the uncertainty is a good thing for private equity investments. you make the most of your money when you're doing things in uncertain environments so disique qudi disequilibrium is something people like us like. >> he doesn't seem to buy that the fiscal cliff is a big issue. i don't want to overstate it. >> it's a big issue. i think it's going to be resolved. i think everyone sooner or later does what's in their best interest, to resolve this problem. >> how are all of these issues, europe, china slowdown, fiscal cliff, what's going to happen to taxes, how is that impacting the way you're think being it. >> in any given period of time o
earnings are not correlated with the macro environment. ubs writes that alexion is a significant double-digit growth driver but uses the orphan drug model where pricing and reimbursement are insulated, the biotech is up a whopping 400% over the past three years. keep in mind this is a speculative takeout target. another standout stock, gilead sciences is up 70% year-to-date, ubs has it as its top large tech biotech pick, it's attractively trading to a discount to the biotech sector, biogen up 50% in the past year thanks to its strong earnings performance and anticipation riding behind its multiple sclerosis drug bg12 which could get approval by year's end. another is buyout speculation. the firms are on the hunt for under the radar biotech firms, bristol-myers among others making big bets. andrew you've been following that as well. >> thank you for that report. lot of beta. see if there's any alpha. >>> in the next hour of "squawk box" former ubs american chairman robert wolf will join us to talk financials, jobs and the election, mr. obama's favorite banker. and later health care, a ma
smith. he you may remember claimed that the bank had a toxic environment the where bankers referred to clients as muppets. the financial times is referring to an internal review found that weeks before smith's public resignation, he complained about his bonus and said he deserved to be paid more than a million dollars. the book, paid $1.5 million for the book. it's all a little -- >> we're saying it's all based on whether they call people muppets. that would be okay if you were doing -- fit's not beg bird, here we are talking about municipmuppe muppets. it's probably like not being client oriented, right? if they were doing everything for their clients but still calling them muppets, it wouldn't be an infraction, would it? >> if he was great for the clients -- >> could be a term of endearment. >> if i called you a muppet, how would you feel? >> i'm not one of those old guys in the balcony. i like those guys. andrew, what are the chances that braunstein goes to goldman and vineyard goes to jpmorgan zero. >> its it's like a wife swapping thing. >> vineyard is going to california to re
that we have an environment where we can create more -- bernie hasn't got to work a day the rest of his life, bernie and billy are having a wonderful life, god bless this man, he's spending his time and his money getting the message out. we know how to create jobs. we've created them. the point i'm making is the taxes will go up when you have a bigger work base. >> right, and that -- >> that's what he's betting on. >> it's a supply side argument and anyway, we got to run because we have mr. mccain coming up. >> oh, good. >> we do. mitt romney says the middle east has become a more dangerous place during the obama administration. he made his remarks in what his campaign called a major foreign policy speech yesterday in virginia, joining us now is more, senator john mccain, joins us from raleigh, north carolina, where he's campaigning for governor romney. in a nutshell, senator, summarize the points that governor romney made that you think are most spot-on in terms of talking about the middle east and where we are right now. >> well, first of all, could i tell bernie now that he's recover
guys trying to get at you. and it's a hurried environment. >> but sometimes what might motivate someone if they thought that you were thinking about it. you just want to bolster his confidence. >> no, not bolstering his confidence. we think he's that good. he is that good. i wouldn't look at the numbers too seriously, 31 or 28. a quarterback's job ultimately is to win games. and mark sanchez has proven he can do that. and he can -- like he pulled out a game a few weeks ago at the last couple of minutes and played miami. that was an ugly game. >> you think the jets can beat some of the best teams in the league? >> i think we were very competitive in the last game. >> we were in there all the way to the end, we made some, a little few mistakes and that cost the game. >> -- tebow next year too? >> yeah, absolutely. he'll be with us for three years. and i think he's going to have -- he's going to be a real asset in helping us win games. >> do you know? is he still a virgin? >> i don't really go into that. >> just, you know, inquiring minds want to know. >> inquiring minds want to know. >> n
Search Results 0 to 4 of about 5